Benchmarking
Comparing a company’s performance metrics like profit margins, costs, or productivity against industry standards or top competitors. It helps identify strengths, spot weaknesses, and set performance targets. Benchmarking drives improvement by showing where a business stands in relation to others.
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Break Even Point
The level of sales at which total revenue equals total costs, meaning the business makes no profit but also no…
Book Value
The net value of an asset or business recorded on the books, calculated as the original cost minus depreciation or…
Bookkeeping
The daily recording and organizing of all financial transactions, sales, purchases, receipts, and payments. It’s the foundation of accounting, keeping…
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